No reason to machine the block if the cylinder walls don't need it.
Change heads or pistons.
Or you could machine the heads and intake to get some more compression but then you have to check piston to valve clearance and pushrod length.

You can get away with it in a light vehicle, decent sized cam and maybe a looser converter but a heavy vehicle, smaller cam, tighter converter all make it more prone to detonation. BTDT.

It also depends on how it is built, something with a dome to get compression up but way down in the hole might detonate @ 10:1 where a flattop set up with the proper quench will not.

Really depends on what the OP's supporting parts, what fuel, uses, and goals add up to.

That said, most people don't have near the compression they think they do, heads and pistons are normally not what they are advertised, pistons are left down in the hole .030", the volume above the ring lands and not accounted for ect.

the cam is going to be of comp cams variety #35-424-8. Fuel delivery is going to be efi with an edelbrock truck intake. 30LB. injectors with a calibrated maf, twin 56mm throttle body, afr 185 heads with 58cc chambers. The goal is to knock on between 400-450hp's door.